15 most expensive U.S. neighborhoods

South of Market (SoMa) is not just a historic downtown district in San Francisco; it’s an urban tapestry woven with museums, a pulsating nightlife scene, and an architectural blend of loft-style dwellings and towering luxury condos. As of December 2023, SoMa has risen to prominence as the most expensive neighborhood in the United States, when measured by price per square foot. This is according to a comprehensive analysis conducted by the real estate portal, Homes.com.

The price per square foot in South of Market stands at an astonishing $5,415, a figure that is approximately 2,000% higher than the national average of $244. This significant price point reflects the unique combination of cultural richness, architectural innovation, and the area’s premium status in the heart of San Francisco.

The top 15 most expensive U.S. neighborhoods, as ranked by price per square foot, are:

1. South of Market, San Francisco: $5,415

Overview: South of Market (SoMa) is a rapidly evolving neighborhood in San Francisco known for its mix of old warehouses and modern high-rise luxury condos. The area has become a hub for tech companies and startups, making it one of the most sought-after places to live and work in the city. Its proximity to downtown and the waterfront adds to its appeal.
Key Features: High-end lofts, luxury apartments, tech industry presence, cultural venues like SFMOMA.

2. Northwest Auburn, Auburn, California: $4,416

Overview: Auburn is a historic city nestled in the Sierra Nevada foothills, known for its Gold Rush history. Northwest Auburn, with its sprawling estates and scenic views, offers a rural lifestyle with easy access to urban amenities.
Key Features: Expansive properties, equestrian estates, proximity to recreational areas like the American River.

3. Old Town Carpinteria, Carpinteria, California: $4,129

Overview: This charming beach town is located just south of Santa Barbara and is famous for its “World’s Safest Beach.” Old Town Carpinteria offers a blend of small-town charm and luxury living, with quaint shops, cafes, and high-end homes.
Key Features: Coastal properties, small-town feel, strong community vibe, proximity to Santa Barbara.

4. Downtown Bellevue, Bellevue, Washington: $3,619

Overview: Bellevue is a major technology and retail hub in the Seattle metropolitan area. Downtown Bellevue is a vibrant area with luxury high-rise condos, upscale shopping at Bellevue Square, and a thriving business district.
Key Features: Modern high-rises, luxury shopping, tech industry presence, excellent schools.

5. Port Royal, Naples, Florida: $3,375

Overview: Port Royal is an exclusive waterfront community in Naples, known for its grand estates and deep-water canals. It’s a playground for the ultra-wealthy, with homes featuring private docks and easy access to the Gulf of Mexico.
Key Features: Waterfront estates, private docks, luxury amenities, close to downtown Naples.

6. Aqualane Shores, Naples, Florida: $3,132

Overview: Another prestigious neighborhood in Naples, Aqualane Shores is known for its deep-water canals and luxury homes. The neighborhood offers a peaceful, upscale environment with quick access to the beach and downtown Naples.
Key Features: Canal-front properties, boating community, proximity to beaches.

7. Stinson Beach, California: $2,988

Overview: Stinson Beach is a small coastal community north of San Francisco, known for its stunning beach and breathtaking views of the Pacific Ocean. The area is a popular getaway for wealthy individuals seeking privacy and natural beauty.
Key Features: Oceanfront homes, beach access, proximity to Mount Tamalpais State Park.

8. Star, Palm & Hibiscus Islands, Miami Beach, Florida: $2,861

Overview: These three man-made islands in Biscayne Bay are home to some of Miami’s most luxurious and private residences. Celebrities and billionaires are drawn to the islands’ exclusive, resort-like atmosphere.
Key Features: Private islands, luxury estates, celebrity residents, close to South Beach.

9. Crystal Cove, Newport Beach, California: $2,771

Overview: Crystal Cove is a prestigious gated community in Newport Beach, known for its custom-built homes and panoramic views of the Pacific Ocean. Residents enjoy access to private beaches and the Crystal Cove State Park.
Key Features: Oceanview estates, private beach access, luxury living, scenic hiking trails.

10. Casa del Lago, Palm Beach, Florida: $2,754

Overview: Casa del Lago is an exclusive neighborhood in Palm Beach, characterized by its historic mansions and lush, tropical landscapes. It’s a quiet, secluded area offering luxury living in one of Florida’s most affluent cities.
Key Features: Historic estates, tropical landscaping, proximity to Palm Beach’s luxury shops and dining.

11. West Village, New York City: $2,680

Overview: West Village is one of Manhattan’s most desirable neighborhoods, known for its historic brownstones, tree-lined streets, and vibrant arts scene. The area’s bohemian past has given way to high-end boutiques and restaurants.
Key Features: Historic charm, trendy boutiques, celebrity residents, vibrant nightlife.

12. Metropolitan Hill, New York City: $2,537

Overview: Metropolitan Hill is a lesser-known yet exclusive area within New York City. It offers a more suburban feel within the city, attracting those who desire space and luxury without leaving the urban core.
Key Features: Spacious properties, luxury homes, quiet atmosphere within the city.

13. Fisher Island, Miami: $2,511

Overview: Accessible only by ferry or private yacht, Fisher Island is one of the most exclusive residential areas in the U.S. It’s home to luxury condos, a private beach, and a world-class golf course, catering to an elite clientele.
Key Features: Private island, luxury condos, world-class amenities, exclusive community.

14. Hudson Square, New York City: $2,401

Overview: Located between SoHo and Tribeca, Hudson Square has become a trendy area known for its luxury lofts and creative industries. The neighborhood’s industrial past is reflected in its architecture, now home to high-end living spaces.
Key Features: Luxury lofts, creative businesses, proximity to SoHo’s shopping and dining.

15. Jupiter Island, Florida: $2,394

Overview: Jupiter Island is known for its secluded beachfront properties and as a haven for the wealthy. The island offers a private, luxurious lifestyle with pristine beaches and lush landscapes.
Key Features: Beachfront estates, privacy, celebrity residents, natural beauty.

San Francisco’s dominance

San Francisco’s dominance in this list with its South of Market neighborhood is indicative of the city’s lofty real estate market, driven by limited land availability and a high concentration of affluent professionals. The median home price in San Francisco stands at $1,180,000, according to Homes.com.

Approximately 120 miles northeast of San Francisco is the second most expensive neighborhood, Northwest Auburn in California, where the cost per square foot is $4,416. Auburn, a charming town set in the Sierra Nevada foothills and known for its Gold Rush history, offers a blend of historical intrigue and modern living. It’s increasingly popular among those who value both proximity to nature and access to urban amenities, being within commuting distance to Sacramento.

Third on the list is Old Town Carpinteria in California, priced at $4,129 per square foot. Carpinteria, nestled between the mountains and the sea, is a scenic coastal town where the limited space contributes to the high property values. The historic Old Town district boasts a median home cost of $905,500, as per Homes.com.

Homewood North in Pittsburgh, Pennsylvania

In stark contrast, Homewood North in Pittsburgh, Pennsylvania, ranks at the bottom among the 20,000 neighborhoods analyzed in the study, with an average home price of just $29 per square foot. This neighborhood is marked by economic challenges and a declining population.

South of Market, San Francisco: $5,415

Northwest Auburn, Auburn, California: $4,416

Old Town Carpinteria, Carpinteria, California: $4,129

Downtown Bellevue, Bellevue, Washington: $3,619

Port Royal, Naples, Florida: $3,375

Aqualane Shores, Naples, Florida: $3,132

Stinson Beach, California: $2,988

Star, Palm & Hibiscus Islands, Miami Beach, Florida: $2,861

Crystal Cove, Newport Beach, California: $2,771

Casa del Lago, Palm Beach, Florida: $2,754

West Village, New York City: $2,680

Metropolitan Hill, New York City: $2,537

Fisher Island, Miami: $2,511

Hudson Square, New York City: $2,401

Jupiter Island, Florida: $2,394

#Luxury-Homes #Luxury-Real-Estate #Market-Update #Most-Expensive-Neighborhoods-in-the-US

David Clark

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Most expensive U.S. neighborhoods